Research Coverage of Japanese Listed Companies, Shared Research Inc

Shared Research

Research Coverage of Japanese Listed Companies

Shared Research Inc

Pioneering research coverage of Japanese listed companies. Now customizable and interactive for global institutional investors. Corporate access reimagined.

Equity Bottom-Up

<ul><li>FY06/24 results: Sales JPY213.5bn (+39.7% YoY), Operating profit JPY81.4bn (+30.6% YoY), Net income JPY59.1bn (+28.0% YoY).</li><li>FY06/24 orders: JPY272.8bn (+46.2% YoY), Semiconductor equipment orders JPY235.6bn (+50.0% YoY), Order backlog JPY462.2bn (+14.7% YoY).</li><li>FY06/25 forecast: Sales JPY240.0bn (+12.4% YoY), Operating profit JPY104.0bn (+27.8% YoY), Net income JPY74.0bn (+25.3% YoY).</li></ul>

FY06/24 results: Sales JPY213.5bn (+39.7% YoY), Operating profit JPY81.4bn (+30.6% YoY), Net income JPY59.1bn (+28.0% YoY).FY06/24 orders: JPY272.8bn (+46.2% YoY), Semiconductor equipment orders JPY235.6bn (+50.0% YoY), Order backlog JPY462.2bn (+14.7% YoY).FY06/25 forecast: Sales JPY240.0bn (+12.4% YoY), Operating profit JPY104.0bn (+27.8% YoY), Net income JPY74.0bn (+25.3% YoY).

Lasertec Corp (6920 JP): Full-year FY06/24 flash update

Semiconductor & Technology Specialist, Ingenuity

William Keating

Semiconductor & Technology Specialist

Ingenuity

Our focus is exclusively on in-depth research & consulting in the broader semiconductor industry. We focus on the key players, namely Intel, Micron, Qualcomm, Apple, Samsung, NVIDIA, AMD, TSMC & Global Foundries - as well as some of the lesser known, but nonetheless critical, companies such as ASML (for EUV), Mellanox, Cavium, Xilinx etc. We specialise in their products, roadmaps, process technologies, competitive advantages & threats etc. We also help our clients understand the implications of new and emerging technologies, e.g. 3D X-Point, 3D NAND, Carbon Nanotubes, Autonomous Driving, Graphene, Silicon Photonics, Wafer-Level Optics, Artificial Intelligence, FPGA, GPU, ASIC etc. 

Semiconductor Analysis & Research

<ul>
<li>Activist short seller Scorpion alleges Lasertec is a "colossal fraud" and "ticking time bomb"</li>
<li>Most of their allegations relate to problems with Lasertec's EUV mask inspection tools</li>
<li>Lasertec achieved Intel's distinguished supplier ward for the past six years and last December landed an award from TSMC for  "Distinguished EUV Mask Inspection and Metrology Collaboration". What gives?</li>
</ul>


Activist short seller Scorpion alleges Lasertec is a "colossal fraud" and "ticking time bomb"
Most of their allegations relate to problems with Lasertec's EUV mask inspection tools
Lasertec achieved Intel's distinguished supplier ward for the past six years and last December landed an award from TSMC for  "Distinguished EUV Mask Inspection and Metrology Collaboration". What gives?


Lasertec. Colossal Fraud Or Multi-Award Winning Mask Inspection Supplier?

Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>Lasertec (6920) is a shoo-in for Nikkei 225 inclusion in September according to the quantitative analysis. The amount to buy is a small multiple of ADV, making the inclusion "unimpressive."</li>
<li>It is probably worth looking at the details of ownership, of volume, and of relationship to other stocks in the same general sector.</li>
<li>It is also worth thinking about flow channels (stock up or down changes flows) and forward fundamental calculations.</li>
</ul>


Lasertec (6920) is a shoo-in for Nikkei 225 inclusion in September according to the quantitative analysis. The amount to buy is a small multiple of ADV, making the inclusion "unimpressive."
It is probably worth looking at the details of ownership, of volume, and of relationship to other stocks in the same general sector.
It is also worth thinking about flow channels (stock up or down changes flows) and forward fundamental calculations.


Lasertec (6920) - The State of Things May Be Different Than You Think

<ul>
<li>The 2023 Version of <strong>JAPAN PASSIVE: Who Owns What?</strong> where we break down the major (and minor) passive tracking indices and which category of investor owns how much of each. </li>
<li>Even if you do not "play" index changes, understanding impact is important. Advantest is up 100% in 3mos. Existing passive ownership and new passive buying were crucial to that performance.</li>
<li>Understanding the nature of the ownership and flows is crucial to understanding how to trade certain stocks in Japan. </li>
</ul>


The 2023 Version of JAPAN PASSIVE: Who Owns What? where we break down the major (and minor) passive tracking indices and which category of investor owns how much of each. 
Even if you do not "play" index changes, understanding impact is important. Advantest is up 100% in 3mos. Existing passive ownership and new passive buying were crucial to that performance.
Understanding the nature of the ownership and flows is crucial to understanding how to trade certain stocks in Japan. 


Equity Long-Short, Semiconductors, Fabricated Knowledge

Douglas O'Laughlin

Equity Long-Short, Semiconductors

Fabricated Knowledge

Learn more about the world's most important manufactured product. Meaningful insight, timely analysis, and an occasional investment idea.

<ul>
<li>
<p>Alphawave reported last week.</p>
</li>
<li>
<p>The results were not good; they were great.</p>
</li>
<li>
<p>I actually am excited to see Tony and the team execute like this. Bookings are growing, and while revenue has not come out yet, it seems very likely they will hit their 2023 revenue estimates.</p>
<div></div>
</li>
</ul>



Alphawave reported last week.


The results were not good; they were great.


I actually am excited to see Tony and the team execute like this. Bookings are growing, and while revenue has not come out yet, it seems very likely they will hit their 2023 revenue estimates.




Alphawave, TSMC and Lam Research Follow-up, DISCO and Lasertec

Japan

Lasertec Corporation develops, designs, manufactures and markets photomask inspection systems to make semiconductor devices, confocal scanning laser microscopes and liquid crystal display (LCD) inspection systems.

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Lasertec Corp (6920 JP)